RBI to meet NBFCs to finalize norms
By Vaibhav Aggarwal
Jan 3, 2013
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The Reserve Bank of India might meet the representatives of non-banking finance companies (NBFC) this month for finalizing the norms of the sector.

An industry source said, "The central bank is likely to hold a couple of meetings in January before finalizing the guidelines with regard to NBFCs".

The central bank had released the final norms on NBFCs, based on the recommendations of Usha Thorat committee report which was released last month.

The Usha Thorat report proposes revision of NPA recognition norm to 90 days (compared to the existing 180 days), along with higher provisioning requirements for NPAs.

The report also proposes 10% capital adequacy ratio (CAR) for most of the NBFCs and increase in risk weights for some other asset classes.

Referring to the guidelines, another source said, "We have already given our feedbacks to the central bank and pointed out the difficulties with regard to the treatment of NBFCs on par with banks in some of the regulations".


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